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CSPAN
Nov 26, 2012 8:00pm EST
will also hear from president obama, who signed the deficit reduction measure into law, part of the deal to raise the debt ceiling. first, senate majority leader harry reid and republican majority leader mitch mcconnell will talk on the senate floor about the january fiscal deadline. >> since our country voted to return president obama to the white house, i have spoken often about compromise. i remain optimistic that, when it comes to our economy, when it comes to protecting middle-class families from a whopping tax hike, republicans and democrats will be able to find common ground. president dwight eisenhower, a republican, once said, "people talk about the middle of the road as though it were unacceptable. there have to be compromises. the middle of the road is all usable space." so said white house and higher. -- dwight eisenhower. too often, we face off, not realizing that the solution rests somewhere in the middle. i remind everyone of one fact. this congress is one vote away from avoiding a fiscal cliff for middle-class families and small businesses. we can solve the greatest econo
CSPAN
Nov 28, 2012 6:00am EST
that we do need long term -- deficit reduction -- that is important to america's credibility. it is important for america's economy and economic growth. that plan has to be balanced, and that means significant revenues and that paying has to go around. that means the wealthy and well- off have to pay their fair share as well. these should not be new issues. they are ones that were debated. they came up in every debate -- even the foreign policy debate. the american people are on the side of the president and democrats who are making this case. that is not to say that there should not be spending as part as this debate. there has been over $1 trillion in spending cuts. that is a part of this debate that gets lost. just because washington has a short memory does not mean we should all have one and that there has already been sacrifice on behalf of the american people through those domestic discretionary cuts. we are excited. c.a.p. has been a lot of work on the fiscal cliff. we have talked about medicare savings that can improve and strengthen the program and address rising nat
MSNBC
Nov 26, 2012 5:00pm PST
in entitlement reform. medicare, medicaid, these are chief drivers of the deficit. there's other spending we have to cut. >> hold on a second. i think that we all know what the chief drivers of our deficit are and have been. our projected deficit has driven by the wars and the bush tax cuts. entitlement programs don't even compete with these costs. plouffe went on to pin the problem largely on republicans who are not flexible, but he also said this. >> where the big bottleneck is republicans in congress around revenue and how much and where does it come from, democrats are going to have to step up and do some tough things. and the notion that somehow that these deficits and our debt are not a threat to our national security on our economic future is something i cannot disagree with more strongly. there are some commentators on the left that suggest that. that we shouldn't deal with that at all. >> voices on the left are not saying the deficit is not a problem for our future. progressives understand we need to deal with our debt, but progressives don't want to see the burden of deficit reduction p
MSNBC
Nov 26, 2012 8:00pm PST
to solve the deficit standoff, people should listen to this guy. plouffe said this is going to get hairy? >> we want to engage in comprehensive tax reform. we also need to engage in entitlement reform. you know? medicare, medicaid carefully, these are chief drivers of our deficit. we made a lot of progress with obama care and there's other spending we have to cut. >> hold on a second. i think we all know what the chief drivers of our deficit are and have been. our projected deficit over the next seven years is driven mostly by the wars in iraq and afghanistan and the bush tax cuts. entitlement programs don't even compete with these costs. plouffe went on to pin the problem largely on republicans who are not flexible on higher tax rates, but he also said this. >> and so where i think the big bottleneck right now is republicans in congress on revenue and how much and where does it come from. democrats are also going to have to step up here and do some tough things. and you know, the notion that somehow that these deficits and our debt are not a threat to our national security and our econo
CSPAN
Nov 27, 2012 1:00am EST
back to work, a deal with our deficit, and we will not have economic security for the future. in order to create jobs and fiske our economy, we have to invest in energy production and domestic manufacturing capacity. they are the engines of economic growth for us in the future. we have to go back to being the country that builds things, rather than the one that just consumes goods that have been produced overseas. with that in mind, i have championed the legislation to create a national infrastructure bank. according to a recent report, failing to invest in our nation 's infrastructure could cost the united states $129 billion a year and over the next 10 years. it reads, u.s. businesses added $430 billion in transportation costs. u.s. exports will fall. meanwhile, we are falling behind in the global economy. china invests 9% of their gross domestic product in infrastructure. india, 5% and rising. in america, we spend less than 2% of gdp on infrastructure. it is a concept with broad and bipartisan support. it could help close the gaps. do something about bringing tele-communications acr
FOX News
Nov 28, 2012 3:00pm PST
tonight in deficit reduction efforts. it's a path that is sure to lead to many obstacles from the other side. chief white house correspondent ed henry has the new developments in a time sensitive story. >> in a dramatic move today, president obama seemed to be trying to split the budget talks to two pieces. suggesting he and lawmakers come up with spending cuts next year after they avoid the fiscal cliff, by extending middle class tax cuts and raising taxes on the rich. >> it would give us more time than next year to work together. on a comprehensive plan to bring down the deficit, streamline our tax system. do in a balanced way. >> the president apparent shift away from spending and tax altogether now in a big deal could increase the chances of a market rattling fall off the cliff. since the republicans want spending cuts included. >> republicans are willing to put revenue on the table. but it's time for the president and democrats to get serious about the spending problem that our country has. >> the president's move came one day after two other big developments, suggesting democrats
CSPAN
Nov 28, 2012 7:00am EST
to the deficit, they say, and it needs to be part of the deficit. the opposing view of durban says social security is not in a crisis. back to our question for our viewers. how would you fix your school system? david in kansas, an educator, republican line. caller: i just want to say i am an educator. i'm not republican. i would make education a completely free market good. i would get rid of compulsory school attendance. --would get rid of taxation a i think you need a wall that separates the government and education, just like we have a separation between government and religion. host: ok. june in wisconsin, independent. caller: hi. you know, the baby boomers got the last excellent, well-rounded public-school education. it was based on the basics -- proper english, writing. for whatever reason, somebody decided -- and i saw a teacher wrote an article on why we have to write all these rules in english, such as "i before e" in english. i thought, are you kidding me? for some reason somebody said, "whatever you think it is, and johnny." it's ridiculous. there's nothing wrong with people un
FOX Business
Nov 23, 2012 10:00pm EST
? fewer still want to be loved with all the deficit. lou: it's going to have to mean cutting the federal budget.the x >> even if we increase the taxr, rates, as you noted, the top 1%y in this country, 17% of the 37 income is what they make. they pay 7% 37% of the taxes.oug lou: give us your last thought here.ith the >> mr. president, please, please we work with the businessyou' putti community. we want you to succeed. but you are puttingy animpedims in a way to make it impossible. we want you to succeed. work with us. >> i don't expect the republicans to love our budget. compromise is hard. we are going to have to compromise. lou: no spending cuts, what is the deal? that is tonight's "chalk talk" people really love snapshot from progressive, but don't just listen to me. listen to these happy progressive customers. i plugged in snapshot, and 30 days later, i wasaving big on car insurance. with snapshot, i knew what i could save before i switched to progressive. the better i drive, the more i save. i wish our company had something this cool. you're not filming this, are you? aw! camera sh
CNBC
Nov 26, 2012 7:00pm EST
cuts which is the true source of the deficit problem along with anemic economic growth. and here's one. we just got confirmation that the latest fiscal numbers from the treasury department show the federal government ran up more red ink in october than it did the year before, and guess what? spending went up double digits from the year before. what a surprise. but the white house got one thing right today. it released a study showing that a massive year-end tax hike would kill consumer spending by $200 billion, right. so let's not raise taxes. and in addition to all of this, the joint chiefs of staff is apparently drawing up plans to keep 10,000 u.s. troops in afghanistan past the 2014 deadline. this break a president obama promise, but some promises are made to be broken, and i think this is probably a good move. but first up congress back at work tonight after the holiday recess with now just 35 days to go. are we any closer to a tax and fiscal cliff fix? cnbc's own chief washington correspondent john harwood joins us now with all the details. good evening, john. >> reporter: good ev
FOX Business
Nov 24, 2012 10:00am EST
of that up, you are still going to be left with a huge hole called the deficit and it will have to mean cutting the federal budget. >> so, even if we increase the tax rates, as you noted, by the way, the top 1% in this country makes 17% of the income, and pay 37% of the taxes. i mean, so, the fair share argument really isn't -- >> up against a hard out here, and i'm going to ask you to give us your last thought here. >> mr. president, please, please, work with the business community. we want you to succeed. but, you are putting impediments in our way that make it impossible. we want you to succeed, we want to succeed. work with us. please work with us. >> andy puzder, thanks for being with us. european nations on the wrong side of the fiscal cliff but the president says america can steer clear. >> president barack obama: i believe it is solvable and my budget, frankly does it and i don't the republicans to adopt my budget, i recognize we have to compromise. compromise is hard. >> lou: more than a trillion-and-a-half dollars in tax hikes, no spending cuts. what is the deal? that is tonig
Current
Nov 27, 2012 5:00pm PST
? >> well, first of all, i do believe the middle class has a stake and a good, solid balanced, deficit reduction plan. the plan should be what the president campaigned on, namely balance. that means we've got to have a substantial contribution from revenues. the revenues have to come from the folks who have been making good money during the recession. that's folks over $250,000 or some number close to. that the pentagon's got to make a contribution and if there is anything on healthcare, it's gotta be about reforming it, bringing the costs down, not cutting benefits. >> eliot: let's drill down a couple of pieces of this. what do you think the underlying ratio should be between cost cutting and revenue generation. last summer it was 10 to 1 in terms of cutting costs to revenue. thankfully the deal didn't get done. should it be one-to-one? where would you like to see this happen? >> you know, i actually don't know that number because i think the question is i think we need about a trillion and a half from revenues and the
MSNBC
Nov 27, 2012 1:00pm PST
, don't worry as much about the deficit, the revenues will come in, and we have to get rid of the social safety net the way it's been, and cut spending, slash spending dramatically. it was very divided policywise and barack obama won pretty handily. >> a week after the election john boehner, speaker boehner, does a press statement and he says we're not going to raise revenues. we should look at loopholes and deductions. >> one thing that hasn't changed and you can put on as many senate republicans as you want looking reasonable. what hasn't changed is the tea party caucus in the house. they've lost a few members, but they're still a majority and john boehner has to find some way to get something past them. that's why i doubt there will be a christmastime deal. i think the president is going to have to let these tax cuts end and then boehner may have a chance of convincing them to pass tax cuts for the bottom 98% without the top 2%. >> do you agree with that, dr. peterson? that the president will be forced to allow these to run their course simply so that republicans in the house won't ha
PBS
Nov 22, 2012 4:30pm PST
and the white house that set the deadline in hopes of forcing each other to cut the federal budget deficit and begin to address the growing national debt. of the half trillion dollars the fiscal cliff is designed to cut in red ink next year, 80% of it comes in the form of higher taxes. under current law, 20% comes from lowering government spending. this is just the first step as part of a $7 trillion effort to cut the debt over the next decade. that has led some to describe what could be coming as a fiscal slope, not a cliff. whatever geological description you prefer, it is on the map for every american. >> susie: a critical issue in this fiscal cliff debate: jobs. if the government cuts spending and rais taxes all at once on january 1, the economy will lose 2.5 million job sylvia hall reports. >> reporter: in this baltimore lab, dr. curt civin researches leukemia in search of a cure. it's hardly a political job, but these days he's keeping a close eye on the federal budget. you see, the sequester-- the severe spending cuts headed our way in january-- could affect him. if it takes affect,
FOX Business
Nov 28, 2012 11:00am EST
player in the deficit talks. >> i am really worried we have a probability we could go over the cliff, and that would be catastrophic. not to go over the cliff, we have to compromise, have to have revenue. the problems are real, the solutions are painful, no easy way out. the only way you can do this ifs to have a balanced approach and that is where people are headed. connell: matt welch is here. what do you make of all this, matt? >> there is nobody at the table actually interested in cutting the size of the government. that seems strange to democrats who think we're living in some sort of mythical age of austerity. we had a really good shot. george w. bush used the hell out of spending four years. i don't think john boehner is ultimately interested in it. talkiig $110 billion, the smudge of potential cuts and they're negotiating it away without any entitlement. dagen: are we past the point with no return? will we become even more of a nation centered around our government that does not promote private business? will anybody ever fix this? >> we will fix it. everything is ultimately
CNBC
Nov 28, 2012 7:00pm EST
there will also be a drag on the american economy if our budget deficit widens out forever, if we're irresponsible and governor doesn't work. left with those four choices, think think -- on the flip side, did republicans ask you to spend any nuts -- i think at this point both sides have acknowledged that there's going to be revenue concessions and entertainment concessions. in fact, if you listen to, it again, i'm not a master of the political art here, i'm in washington but i would say if you had these points of views in a business context, as close as they are, i would say a deal would be in reach. >> you see some fundamental level of optimism from lloyd blankfine but a long way to go with the combination of prief pressure and public pressure, like the president is going to exert before we actually go to the flight of fired. i asked the treasury secretary should the president return to wall street. he it must be someone who understands markets, marry. >> me have 33 days to -- head of all pi he told john harwood. marge i will hates have to go up somewhat. he said that's going to put a drag on the
CNN
Nov 28, 2012 12:00am PST
on the table a proposal that reduces the deficit by $4 trillion, that does so in a balanced way, that includes substantial cuts to discretionary non-defense spending, over $1 trillion, it includes revenue and includes $340 billion in savings from our health care entitlement programs. >> fairly unequivocal, isn't it? it's a mixture of pretty substantial spending cuts and tax increases. >> we haven't seen the plan. i haven't seen the plan. i don't think the speaker -- >> are you accusing the president of lying? is the president lying? >> where is the plan? >> is he lying? >> i don't think the plan's out there. i think jay carney might be but i don't see the plan. maybe they have a plan. >> jay carney is lying and he's the white house spokesman. >> no. >> they're lying, are they? >> i'm not saying that. piers, maybe they've got -- >> you just did. you just called him a liar. >> they haven't shared the plan with the american people. paul ryan and the republicans in congress have passed twice now and last year -- excuse me, two years ago as well, a ten year plan for a budget that deals with the ten
FOX News
Nov 27, 2012 1:00pm PST
, that is .5 percent of the deficit. we cannot get there, get the deficit down without significant cuts in spending. >>neil: the election has consequences and you could argue that a key premise of the president's re-election was i will raise taxes on the rich and he is likely entitled to that, he will likely see that but it is all the other things they are leveraging with democrats do not touch entitlements and putting everything on table it remind me of george bush sr. he agreed to reverse the pledge oh ride -- "read my lips, no new taxes." but the democrats never offered correspondenting spend cuts. we know what happened to him. what happens to those who agree do in the republican party? >>guest: the republican party has to stand for economic growth and it has to stand for the principle that keeping tax rates low and reforming the tax system is the way to grow the economy. i disagree slightly with rand paul. i am in favor of closing loopholes. i hate them. i call them termites in the tax system but we should use that money to credit a first-class world class tax system that stops expo
CSPAN
Nov 27, 2012 10:00am EST
will be speaking about the so-called fiscal cliff and that is a reduction -- and deficit reduction. we will have that live here on c-span at 11:30 a.m. eastern. over at the white house today, president obama is meeting with small business owners. at 12:30, jay carney will hold a press briefing and take questions from reporters. this afternoon, the president and vice president will meet with the mexican president who takes office december 1. the press briefing today at 12:30. on capitol hill, the house of representatives returns today at 2:00 p.m. eastern on their agenda this afternoon five bills including a measure requiring the department of a homeland security to report on security. later this week, a student visa program. also this week, the democratic leadership elections. that will be coming up later this week. live coverage of the house at 2:00 p.m. eastern. a number of senators have been meeting with u.n. ambassador susan rice in the wake of her comments following the attack on the benghazi consulate. just wrapping up is a brief news conference and statement with senators. here is a look.
PBS
Nov 27, 2012 5:30pm PST
. the president moved to draw on his reelection victory for new clout with congress. the goal: a sweeping deficit agreement to avert $650 billion in spending cuts and tax increases at the start of 2013. from the white house came word that president obama will try to build public pressure on congress to raise taxes on the wealthy and prevent tax hikes for everyone else. white house spokesman jay carney. >> well, the president believes very strongly that the american people matter in this debate. because this debate is about them. the question of whether or not taxes go up on 98% of american tax payers is a very important to ordinary americans. it is not just a matter for discussion between the president and the senate minority leader. or other congressional leaders. >> brown: to that end the president met privately today with small business owners. on friday he'll travel to the philadelphia area to speak further on the issue. not to be outdone, house republicans said they'll meet with small business owners and workers in their districts arguing against the president's plan. in the senate republica
CSPAN
Nov 28, 2012 5:00pm EST
when people first signed that pledge, the federal budget deficit was $220 billion. this year, $1.1 trillion, how can you say nothing has changed? >> lots have changed. bush focused not on spending. the pledge only does certain things. the pledge makes tax increases more difficult at the state level, at the national level. you haven't had a republican vote for income tax since 1990 when bush threw away his presidency. 1993 tax increase, only on democratic votes. then no tax increases until 2009 when obama came in and raised taxes with obamacare. >> isn't this -- you are having republican is take a difficult pledge to cut taxes, isn't that like a quarterback saying they like taxes? >> it's a pledge not to increase taxes. people say why don't you toughen it. you don't want to change it because it is a simple guardrail. it doesn't solve the world's problems, it says no net tax increase. >> in your mind when someone signs it, how long are they committed to it? >> in writing when the person signs it as long as you are a congressman or senator. >> you are signing this for life? >> unles
FOX Business
Nov 23, 2012 7:00pm EST
with the deficit and that will mean cutting the federal budget. >> eventh if increase the taxe rates, the top 1% maken timbersf 17 percent of the incoming and a 37% of the taxes. lou: give us your lasthot thought. >> mr. president, pleaseplease mr. president, please, workbusi with the bneusiness community. b we want you to work with us i but you put impediments in our way. work with us. please work with us. lou: european nations on the wrong side of the fiscal cliff but the president says ameritech and steer clear. >> i recognize we have to compromise. >> $1.5 trillion of tax hikes but no spending cuts? hikes but no spending cuts? "chalk talk."omcu core of my portfolio. hikes but no spending cuts? "chalk talk."omcu what i really need is sleep. introducing the ishares core, building blocks for the heart of yr portfolio. find out why 9 out of 10 large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possibl
FOX Business
Nov 27, 2012 7:00pm EST
. let's face it. it's a revenue problem. by definition, a deficit exists because you spend too much, and the president who is the leader of the country, you know, claims that the problem can all be solved by adding more revenue, which seems to me, a fundamental problem because you can keep adding money to the problem, but if the growth grows at such an exponential rate, you don't stop it. nevermind the deficit, you'll never come close to tackling the debt if there's not leadership from the white house on this issue. >> reporter: steven, you covered the issues, and you have for a very long time with distinction. at some point, it seems we're on a carosel of complaints and empirical evidence that does not change and the argument does not change. that is, we have a trillion dollar problem in terms of the deficit, a $16 trillion problem in terms of the debt, and we've got two parties that for all the world are acting as though we think we got 300 million americans in the country too dumb to understand what they've got to do. the only people who don't seem to get it are the republicans a
PBS
Nov 27, 2012 4:30pm PST
social security off the table for the current fiscal cliff and deficit discussion, but be very honest about what we're going to achieve in the near term. >> reporter: republicans pushed back, arguing social security is part of the deficit problem because it is no longer taking in enough in taxes to cover the benefits it pays out. social security makes up the difference by cashing in special treasury bonds it holds in its trust fund. but conservatives point out the money to redeem those bonds comes from taxpayers. >> it is money that is coming out of general revenue that is going into social security that reduces the amount of revenue that is available for everything from aircraft carriers and roads to environmental issues. >> reporter: legally, social security is off-budget, meaning its cash flow is not considered part of the budget deficit. and defenders argue the money used to pay off the special treasury bonds in the social security trust fund are no different than the money owed to any other bond holder. >> we're using social security as a piggy bank to deal with the problems in t
MSNBC
Nov 23, 2012 10:00am PST
about $30,000 which is inconsequential. it has no impact on deficit reduction or very little. so far there haven't been any what i would consider to be really sincere efforts at reaching some kind of accommodation on revenues. >> this week speaker john boehner said that the health care law should also be a part of the negotiations. he wrote this in the cincinnati enquirer. saying in part the president's health care law adds aive, expensive, q8unworkable government program at time when our national debt already exceeds the size of our an't afford it and we can't afford to leave it intact. the white house saying this is off the table, that this is a battle that has been fought and won. does the speaker's request, does it make the talks more difficult? >> no. i think what he's doing there is basically trying to throw a bone wing. you know, but there's a factual problem wi according to the cbo, if you repeal the affordable care act it adds trillion to the deficit. so if you're trying to get deficit reduction the affordable care act actually helps with deficit redu
MSNBC
Nov 28, 2012 9:00am PST
the deadlines we're facing on taxes and deficits. these deadlines are going to be coming up very soon in the coming weeks. but today's important because i want to make sure everybody understands this debate is not just about numbers. it's a set of major decisions that are going to affect millions of families all across this country in very significant ways. and their voices, the voices of the american people, have to be part of this debate. and so i asked some friends of mine here to join me, some folks from here in the area. our ultimate goal is an agreement that gets our long-term deficit under control in a way that is fair and balanced. that kind of agreement would be good for our businesses, it would be good for our economy, it would be good for our children's future. and i believe that both parties can agree on a framework that does that in the coming weeks. in fact, my hope is to get this done before christmas. but -- the place where we already have in theory at least complete agreement, right now, is on middle-class taxes. and as i've said before, we have two choices. if congre
CSPAN
Nov 22, 2012 6:00am EST
, the deficit reduction first. you have to pay the bills. in your personal and public life -- you want to have a prescription drug benefits under medicare, that is great, you have to pay for it. you want two wars? you have to pay for them, too. we should understand something about the republican party over the last and years. it has been a big spending party -- it just does not want to pay for any of the spending. a reset of traditional conservatism requires that we be reality-based on the fiscal condition of the country and understand that the years of profligacy now require increased revenue. the notion that we have hundreds of members of congress bound by a pledge to grover norquist as opposed to their oath of office to the constitution -- [applause] is unsettling. we should understand, there is not symmetry between the parties on this question. there is no grover norquist equivalent in the democratic party on this question. it is encouraging to hear speaker boehner and republicans talk about the need to increase revenues. my personal opinion, which is why i am a republican in part, a 40% f
FOX Business
Nov 21, 2012 12:00am EST
they will hurt the economy and it is not a serious deficit proposal. higher taxes the president proposes only pay for seven days or eight days of washington spending. economic growth, for example, returning to the revenue of 2009 will cut our deficit in half. so if you cuple that with real spending cuts, authentic spending cuts you really have us headed back toward a balanced budget. and if we focus on how we find a bipartisan way to solve the social security and medicare, that is a signal to investors that we have the right track. melissa: so if they came out and said they were willing to do something real to cut spending, especially wen you come to entitlements, would you be willing to then go back and revisit the idea of marginal rates? >> well, my thought still is if you raise taxes on the small businesses, you know, and on successful families you have actually drag the economy down. that does not help us close the deficit gap. may be politically of fun move for someone to hang their hat on, but the deficit and an economic stadpoint, it's just is not make sense. melissa: i absolutely hear wha
FOX Business
Nov 28, 2012 4:00pm EST
on growing our economy and reducing the deficit. we head to the white house after the break to get details. dave: could the fiscal cliff be a good thing? bill harris of personal capital and former ceo of into it and pay pal might think so. find out why when he joins us in studio. but d#: 1-800-345-2550 this morning, i'm going to tre in hong kong. tdd#: 1-800-345-2550 after that, it'sn to germany. tdd#: 1-800-345-2550 then0 miles away in japa tdd#: 1-800-345-2550 with the new obal account from schwab, tdd#: 1-800-345-2550 i hunt down opportunities around the world tdd#: 1-800-345-2550 as if i'm right there. tdd#: 1-800-345-2550 and i'm in tal control becausi can trade tdtd: 1-800-345-2550 dictly online in 12 markets in their local currencies. tdd#: 1-800-345-2550 i use their global research to get an edge. tdd#: 1-800-345-25 their equity ratings show me how schwab td: 1-800-345-2550 rates ecific foreign stocks tdd#: 1-800-345-2550 based on things like fundamentals, momentum and risk. tdd#: 1-800-345-2550 and i also have access to independent tdd#: 1-800-345-2550 firms like ned davis researc
MSNBC
Nov 20, 2012 8:00pm PST
income is going down. who is better prepared to help us with with deficit reduction? struggling working people or people on top doing well? >> that was answered on november 6th. the proposals will be coming in next week. what changes would you be willing to make to medicare because the republicans, you heard mitch mcconnell, you have to have entitlement reform to the republicans is cuts. that's what their entitlement reform is. would you do anything to medicare at all? >> sure. look, ed, what has to be understood is are we not only the country that doesn't care to all people, we pay by far much more per capita for health care than does any other nation. it's a wasteful system. for example, in terms of medicare, republicans demanded as part of medicare part d that the medicare could not negotiate drug prices with the pharmaceutical industry. the v.a. does that. why isn't medicare doing that? furthermore, if we develop efficiencies that save the system money, let's do it. but let us not cut benefits for the elderly or for the poor who are on medicaid. >> finally, senator, are you willing
CNBC
Nov 26, 2012 4:00pm EST
should address the drivers of the deficit. social security is not currently a driver of the deficit. that's an economic pact. while the president supports engaging with congress on a separate tract to strengthen social security, for entitlements we need to look at medicare and medicaid. >> joining to us talk about that and more is alan krueger, chairman of the council of economic advisers. can you help us interpret what jay carney just said? a lot of republicans have gone into this debate and discussion saying, you want more in taxes but in the same time we have to have entitlement reform. is he taking that off the table, mr. krueger? >> the president has pursued a balanced approach all along. he's had entitlement reform on the table. if you look at budgets, there are tough decisions there relating to health care costs, which are driving our deficits. additional revenue from upper income earners. >> medicare is still on the table when it comes to discussions about the fiscal cliff but not social security? what exactly are we talking about? >> as jay carney said, social security is not a d
MSNBC
Nov 21, 2012 9:00am PST
's translate that. according to the congressional budget office, falling off the cliff would cut the deficit but stop economic recovery in its tracks. now presidents in both parties usually try to put money in people's pocketses to stimulate the economy. president bush sent taxpayers a refund check while obama has cut payroll taxes. p falling off the cliff is a reversal of that approach. that's why the cbo estimates economic growth would drop under 1% to just .5%. and unemployment could jump over a point to 9.1%. heather, we know the costs, we understand this game because the republicans have been playing it for a while. do you think anything has shifted post-election in way that will actually get a deal done? >> i think what's really come to roost for conservatives has been the fact they were pushing a vision for our economy that included basically just this, except for the tax increases, right. they said starting in 2010, the deficit is the most important thing, it's the most important thing, and now, they're basically faced with immediate deficit reduction and realize, oh, this is actuall
MSNBC
Nov 21, 2012 5:00pm PST
reduce the deficit. it doesn't make a lot of sense to get rid of a deficit reduction program, as part of a deficit reduction deal. the white house already rejected boehner's idea. obama care will not be part of debt negotiations. boehner is up to something here, don't you think? something else, that is. if you watch john boehner closely over the last two weeks, you can see him laying the ground work for the latest ploy. he call eed obama care the law the land, but also tried to link it to obama care and the budget. >> you had said, next year, that you would repeal the health care vote. that's still your mission? >> well, i think the election changes that. it's pretty clear that the president was re-elected. obama care is the law of the land. i think there are parts of the health care law that are going to be very difficult to implement. and very expensive. and at a time where we're trying to find a way to create a toward a balanced budget, everything has to be on the table. >> but you won't be spending the time next year, trying to repeal obama care? >> there are certainly may be part
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